Veracity Capital LLC Buys 97 Shares of General Electric (NYSE:GE)

Veracity Capital LLC boosted its holdings in shares of General Electric (NYSE:GE) by 6.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,579 shares of the conglomerate’s stock after acquiring an additional 97 shares during the period. Veracity Capital LLC’s holdings in General Electric were worth $298,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the business. Mackenzie Financial Corp grew its holdings in shares of General Electric by 10.5% in the 2nd quarter. Mackenzie Financial Corp now owns 603,988 shares of the conglomerate’s stock valued at $96,016,000 after acquiring an additional 57,372 shares in the last quarter. Marietta Investment Partners LLC bought a new stake in shares of General Electric during the 2nd quarter worth approximately $1,569,000. GAMMA Investing LLC boosted its holdings in shares of General Electric by 25.4% in the 2nd quarter. GAMMA Investing LLC now owns 16,999 shares of the conglomerate’s stock valued at $2,702,000 after buying an additional 3,442 shares during the last quarter. Senator Investment Group LP acquired a new position in General Electric during the second quarter worth $34,973,000. Finally, Blair William & Co. IL raised its holdings in shares of General Electric by 4.4% in the 2nd quarter. Blair William & Co. IL now owns 181,971 shares of the conglomerate’s stock valued at $28,928,000 after purchasing an additional 7,670 shares during the period. 74.77% of the stock is owned by institutional investors.

General Electric Price Performance

GE stock opened at $192.61 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95. The company’s fifty day simple moving average is $178.51 and its 200 day simple moving average is $167.42. General Electric has a 12-month low of $84.42 and a 12-month high of $194.80. The firm has a market cap of $210.83 billion, a price-to-earnings ratio of 63.15, a PEG ratio of 1.86 and a beta of 1.18.

General Electric (NYSE:GE) last released its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, topping the consensus estimate of $0.99 by $0.21. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The business had revenue of $9.09 billion during the quarter, compared to analysts’ expectations of $8.44 billion. The firm’s revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.68 earnings per share. On average, analysts expect that General Electric will post 4.2 earnings per share for the current year.

General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Thursday, September 26th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date is Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is currently 36.72%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft raised their price objective on General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. UBS Group increased their price objective on General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research report on Monday, July 1st. Citigroup lifted their price objective on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Royal Bank of Canada upped their price objective on shares of General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Finally, StockNews.com lowered shares of General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, General Electric presently has a consensus rating of “Moderate Buy” and an average price target of $196.86.

About General Electric

General Electric Company, doing business as GE Aerospace, designs and produces commercial and defense aircraft engines, integrated engine components, electric power, and mechanical aircraft systems. It also offers aftermarket services to support its products. The company operates in the United States, Europe, China, Asia, the Americas, the Middle East, and Africa.